Global Polymer Microinjection Molding Market Expected
Newark, NJ, October 25, 2021 (GLOBE NEWSWIRE) – According to the report published by Fior Markets, the global polymer microinjection molding market is expected to increase from $ 1.925 billion in 2020 and reach $ 6.667 billion by 2028, with a CAGR of 16.8% during the forecast period 2021-2028.
The polymer microinjection molding market has experienced significant growth in recent years. This growth is attributed to the increasing demand for small materials for various applications and technological advancements. The introduction of various common materials in the market, such as polyester, acetal, liquid crystal polymer and various others, will propel the polymer microinjection molding market. The increasing adoption of polymer microinjection polymer applications that generally aid in ultra-fine molding resolution in the manufacturing of small-sized products will influence the market.
Polymer micro-injection molding is considered to be a unique injection molding process requiring a specialized molding machine capable of providing high injection speed, high injection pressure, precise firing control, temperature of Uniform fusion and ultra-fine resolution using servo-electric propeller controls, specially designed for molding micro-small components. Micro-injection molding is the process of transferring a thermoplastic material in the form of granules from a hopper into a heated barrel so that it is molten and soft. The material is then pressurized inside a mold cavity, where it is pressurized for a period of time to compensate for the shrinkage of the material. The material solidifies when the temperature of the mold is lower than the glass transition temperature of the polymer. After enough time, the material freezes in the shape of the mold and rises.
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The global polymer microinjection molding market is expected to experience significant growth, owing to the growing demand for small components in the healthcare industry, increasing popularity of micro gears, increasing demand in health care costs, from substrate polymers containing phthalates to thermoplastics. Factors restraining market growth are high cost of polymer microinjection molding, lack of micro molding awareness in developing regions. The growing demand for polymer microinjection molding in industries such as electronics, automotive, telecommunications, medicine and healthcare will provide growth opportunities for the market.
The major players operating in the global polymer microinjection molding market are Accu-Mold LLC, Precipart, Makuta Technics, Micromolding Solution Inc., Precimold Incorporation, Rapidwerks Inc., Stack Plastics Inc., Stamm AG, Sovrin Plastics, Likuta Technics Inc., Norco Injection. Molding, OMNI Mold Systems, ALC Precision, American Precision Products, Sovrin Plastics. To gain significant market share in the global polymer microinjection molding market, major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships. Makuta Technics and Micromolding Solution Inc. are some of the leading manufacturers operating in the polymer microinjection molding market.
- In April 2016, RAUMEDIC AG announced the launch of its new development and production unit which will provide high quality polymer extrusion, assembled products and on-site injection molding. This will help the company to offer high quality products to its customers and meet their needs and requirements.
Thermoplastics segment dominated the market and held the largest market share of 35% in 2020
On the basis of type, the global polymer microinjection molding market is segmented into thermosets, thermoplastics and elastomers. The thermoplastics segment dominated the market and held the largest market share of 35% in 2020. This growth is attributed to the increasing demand for polymers of micro-materials containing phthalates such as PVC which tend to replace thermoplastics. as well as the increasing manufacture of components such as cogwheels. and the micro gears which are used to produce watches.
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Medical & Health segment dominated the market and held the largest market share of 27% in 2020
Based on the applications, the global polymer microinjection molding market is segmented into medicine and healthcare, micro-drive and control systems, automotive, telecommunications fiber optics. The Medical & Healthcare segment dominated the market and held the largest market share of 27% in 2020. This growth is attributed to the increasing number of micro-sized components in the medical and healthcare industry.
Regional Segment of Polymer Microinjection Molding Market
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and rest of South America)
- Middle East and Africa (UAE, South Africa, rest of MEA)
On the basis of geography, the global polymer microinjection molding market is classified into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The North America region held the largest market share in 2020. This growth is seen by the United States in the North America region due to the increasing demand for small product consumption in some end-use industries such as medical, automotive, telecommunications and others in the country. Advances in technology in the United States and increasing healthcare spending will propel the region’s market growth. The European market is expected to experience significant growth, due to a growing understanding of micro-modeling and early adoption of the technology in the country. The Asia-Pacific region is experiencing significant growth in China, Indonesia and India, attesting to the awareness of medical and health services.
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About the report:
Global Polymer Microinjection Molding Market is analyzed on the basis of its value (USD Billion). All segments were analyzed on a global, regional and national basis. The study includes analysis of over 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges to get the key insights of the market. The study includes the model of the five forces of the wearer, the analysis of attractiveness, the analysis of raw materials and the analysis of the position grid of the competitors.
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